EQB and ACM Advisors recently announced that they’ve entered into a definitive agreement by which EQB will acquire a 75% interest in ACM. Following the transaction, ACM will operate as an independent majority-owned subsidiary of EQB. ACM expects the partnership will allow the firm to leverage EQB’s significant experience and deep relationships in Canadian commercial real estate into enhanced deal flow. The acquisition is expected to close prior to the end of 2023.
The Desjardins Insurance Group Retirement Savings Investment Solutions team believes that this change has a moderate impact on the Multi-Manager Private Credit Fund, of which the ACM Commercial Mortgage Fund is part. Indeed, even though the commitment of current managers and the interdependencies with Equitable Bank will need to be assessed, the ACM strategy possesses a limited weight within the fund (target of 10%). We’ll monitor the situation over the coming quarters and provide updates as needed.
Baillie Gifford recently announced the nomination of Apricot Wilson as Senior Impact Analyst in the Positive Change team. She will become a decision-maker on the strategy with Edward Whitten, replacing Michelle O'Keeffe since June 2023. Her permanent appointment is an acknowledgement of her performance within the team.
The Desjardins Insurance Group Retirement Savings Investment Solutions team believes that this change has a moderate impact on the Desjardins SocieTerra Positive Change (Baillie Gifford) Fund. We’ll monitor the situation over the coming quarters and provide updates as needed.